Asian stocks rose on Monday after Wall Street hit a five-year high in the previous session as strong economic data buoyed sentiment.

U.S. stocks rose to five-year highs on Friday, with the Dow closing above 14,000 for the first time since October 2007, after jobs and manufacturing data showed the economy's recovery remains on track.

Japan's Nikkei share average climbed to a fresh 33-month high, with consumer electronics in the spotlight on the back of a recovery in the third quarter, and a softer yen keeping exporters ahead of the market.

Panasonic Corp shot up 13.7 percent to a seven-month high after the consumer electronics maker rebounded to a quarterly profit and stuck with its full-year earnings forecast. It was the second-most traded stock on the main board by turnover.

Mazda Motor and Nissan Motor rose between 2.3 percent and 2.9 percent on Tuesday morning.

South Korean shares nudged up after a global equities rally, supported by gains in POSCO, the world's fourth largest steelmaker by output, which rose 1.9 percent.

The Korea Composite Stock Price Index (KOSPI) was up 0.5 percent at 1,967.94 points.

Australian shares extended their winning streak, rising 0.2 percent, helped by gains in mining stocks.

The benchmark S&P/ASX 200 index rose 9.1 points to 4,930.2 at 2342 GMT, the 12th gain in 13 sessions and taking the index closer to the psychological 5,000 mark. The index rose 0.9 percent on Friday.

Still, the benchmark retreated from its early high of 4,951 as it hit technical resistance after rallying 6 percent this year. It has surged 13.6 percent since the Nov. 19 2012 low as investors look for better returns as interest rates decline.

New Zealand's benchmark NZX 50 index rose 0.1 percent to 4,259.7.

Greater China markets traded in positive territory, with the Hang Seng Index up 0.9 percent, and the Shanghai Composite rising 0.7 percent.

In Southeast Asia, Singapore's STIand Malaysia's KLCI rose 0.5 and 0.7 percent, respectively.